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Northern Rock and PPI
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callansdad
Posts: 766 Forumite
in Loans
Hi all ... just thought i would let u all know about my experience with northern rock.
Just applied for £11000 over 6 years .... after reading threads on here about NR's pushiness over PPI i thought i would apply for the loan with their silver PPI (with the intention of cancelling later).
The loan was accepted immediately online but with an apr of 9.9%. I dont have the best credit in the world but thought i would fare better than that.
Anyhoo i double checked the monthly payment on the FSA's website (they have a calculator which you can use to check apyments are correct against any apr). and there was a discrepency.
My acceptance page informed me that my loan had been accepted at 9.9% over six years without payment protection. But the monthly payment they had quoted was including PPI.
I telephoned the helpline to sort this out ... told them i didnt need payment protection cos i already have a personal PPI plan ... i wasnt given any hard sell ... just informed that they would send me a declaration to sign to state i have refused PPI.
So al in all not a bad service ... not the best interest rate but i think its all i can get just now with my credit .... i'll shop around though.
Just applied for £11000 over 6 years .... after reading threads on here about NR's pushiness over PPI i thought i would apply for the loan with their silver PPI (with the intention of cancelling later).
The loan was accepted immediately online but with an apr of 9.9%. I dont have the best credit in the world but thought i would fare better than that.
Anyhoo i double checked the monthly payment on the FSA's website (they have a calculator which you can use to check apyments are correct against any apr). and there was a discrepency.
My acceptance page informed me that my loan had been accepted at 9.9% over six years without payment protection. But the monthly payment they had quoted was including PPI.
I telephoned the helpline to sort this out ... told them i didnt need payment protection cos i already have a personal PPI plan ... i wasnt given any hard sell ... just informed that they would send me a declaration to sign to state i have refused PPI.
So al in all not a bad service ... not the best interest rate but i think its all i can get just now with my credit .... i'll shop around though.
A banker is someone who lends you an umbrella when the sun is shining, and who asks for it back when it start to rain.
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